The Academy Awards (often referred to as the "Oscars") is an annual award ceremony hosted by Academy of Motion Picture Arts and Sciences (AMPAS), in recognition of excellence in cinema. The winners of each category receive a statuette of the Academy Award of Merit, or the "Oscars".
The first Academy Awards was presented on May 16, 1929. A private dinner function was also held at the Hollywood Roosevelt Hotel, with 270 invitationals in the audience. The post-awards party (now commonly known as the after-party) was held at the Mayfair Hotel. Fifteen statuettes were presented, as the ceremony ran for fifteen minutes.
Winners of the awards were given to the media three months prior to the ceremony during the first Academy Awards, however, it was changed for the second Academy Awards and since then, for the rest of the first decade, the results were given to newspapers for publication at 11 pm on the night of the awards. However, due to an incident with the Los Angeles Times publishing the results before the ceremony started, winners of the awards were since sealed in an unopened envelope. Since then, this method has been in place, and is still currently used.